24 April 2024 – Mr. Teerachai Phuwanatnaranuban Former Minister of Finance Chairman of the Academic Committee The Palang Pracharat Party posted on Facebook that
digital wallet Going to the BAAC is very clear.
The BAAC Act states that
“Section 9. The Bank has the following objectives:
(1) Provide financial assistance to farmers. Farmer groups or cooperatives
Agriculture for
(a) Engage in agriculture or a career related to agriculture.
(b) engage in other occupations to increase income
(c) develop knowledge in agriculture or other occupations to increase income or Develop the quality of life of farmers or their families.
(d) Carry out activities according to projects that promote or support agricultural operations. which is a joint operation with entrepreneurs To increase income or improve quality of life of the farmer or the farmer’s family
(2) Engage in other businesses that promote or support agricultural operations.
(3) Operate as a financial institution for rural development. By providing financial or management assistance to individuals, groups of people, entrepreneurs, village or community funds. Including organizations established in any form with the objective of supporting the careers of farmers or communities in order to promote the development of produce or products of farmers or communities to be efficient in terms of investment, production, processing, and marketing, or to promote communities to be strong in the economy or to develop the quality of life
(4) Provide financial assistance to cooperatives for use in operations within the scope of the objectives of establishing the cooperative.
Providing financial assistance according to the provisions of paragraph one (1), (b), (c), and (d), including taking actions according to the provisions of paragraph one (2), (3), and (4), shall be done only as much as specified in the ministerial regulations”
** I see that digital wallets do not clearly fall under the law because
(1) (a) stipulates that BAAC can provide financial assistance to farmers for their agricultural careers or agriculture-related occupations – not included
(1) (B) stipulates that BAAC can provide financial assistance to farmers for other occupations to increase income – not included
(1) (c) stipulates that BAAC can provide financial assistance to farmers for developing knowledge in agriculture or other occupations to increase income – not entered
or improve the quality of life of farmers or their families
Here, I originally misunderstood that there was a space between the word or and the word development.
But in the Royal Gazette, page 15, dated February 24, 1999, Act No. 5 (see picture), the text in (c) has no punctuation.
Therefore, activities to improve the quality of life of farmers or their families are forced by previous messages.
That is, read:
BAAC can provide financial assistance to farmers for developing knowledge in agriculture or other careers to improve the quality of life of farmers or their families.
The digital wallet project is not for knowledge development – no entry
(1) (d) stipulates that BAAC can provide financial assistance to farmers for projects that promote or support agricultural operations – not included
(2) It is a business matter of BAAC – not included
(3) Specify that the BAAC can provide financial assistance to farmers in order to promote the community to be strong in the economy or to develop the quality of life.
But on page 3 of the Royal Gazette dated March 14, 2006, Act No. 6 (see picture) provided such assistance. Must be subject to the conditions specified earlier.
That is, you must read:
Financial assistance can be given to farmers to promote the community’s economic strength or to improve the quality of life. The purpose of financial assistance is to support the occupation of farmers or communities and to Promote the development of produce or products of farmers or community to be effective – not included
I believe that the Secretary of the Council of State will already see these issues.
Therefore, there is an opinion that digital wallets It is clear that the decree’s interpretation of the BAAC is going to be a dead horse.
